Jewellery expo in Dhaka from Feb 9

The Bangladesh Jeweller's Association (Bajus) is going to organise a three-day expo from February 9 in hopes of heightening the country's position in the global gold jewellery market and thereby improve the local industry.

During the expo, which will be held for the second time, local gold jewellers will be able to showcase their latest designs before an international audience, organisers said.

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The Bajus Fair-2023 will be held at the International Convention City Bashundhara in Dhaka, according to Uttam Banik, chairman of the Bajus standing committee on fair and event management.

He made these comments while speaking at a press briefing on the expo at the Bajus office in Dhaka yesterday.

"We hope the fair will play a role in enriching the domestic gold jewellery industry and create a new position for Bangladesh in the global market," Banik said.

Dewan Aminul Islam Shahin, vice-president of Bajus, said the fair is being organised to promote the gold jewellery industry of Bangladesh at home and abroad.

About 50 jewellery firms will participate in the fair, which will remain open every day from 10:00am to 9:00pm, organisers said. There is no reliable information about the demand for gold in Bangladesh.

The government's gold policy puts the demand at 20 to 40 tonnes per year. According to commerce ministry documents, almost 80 per cent of the demand is met through smuggling while the rest comes from recycled gold.

Bajus said gold worth Tk 73,000 crore is smuggled into the country each year.

Customs statistics show that travellers bring in around five tonnes of gold on their person legally through the airports in Dhaka and Chattogram every month.

Meanwhile, another four tonnes are brought in under baggage rules.